Net Revenues. If the University is the Licensee, the University’s obligation to make payments to the Commission shall commence upon the first Sale of the Licensed Product. Payments are payable in annual installments and are due the first day of March for the prior fiscal year of the University and extend until ten (10) years from the Agreement’s end date. University agrees to pay an amount equivalent to 1.5% of the Net Revenues by check made payable to the California Energy Commission.
Appears in 4 contracts
Sources: Grant Agreement, Grant Agreement, Standard Agreement